Final co-op report
Province
Introduction
The purpose of this report is to contemplate on the knowledge and skills that I have acquired during the co-op work term. During my co-op term work, I was an accountant trainee and the experience enabled me to apply the knowledge acquired in class, and also gave me an insight into the future of my career. In this report, I will include my strengths and weaknesses as was revealed by my experience in my co-op term work. Skills, weaknesses, and strengths will be listed as part of my self-evaluation. I will also conduct an evaluation of my workplace. The report will continue to link the concepts learned in class to the work experience. The report will also include objectives and goals that I wish to accomplish to enhance my career development in the future. The co-op term work is a great experience which prepares students for the job market by providing them with skills, knowledge, and experience in their respective careers.
Personal reflections/ observations
The employer
The company is a building and construction company by the name Intact Building Solutions. The company deals with the sale of construction materials such as paint, ceramic, steel, and cement among others. Clientele includes both retail and wholesale customers; which means that the company conducts large transactions involving large volumes of construction materials. The employer offers students a great opportunity to learn by trusting them with vital roles at the organization which prepares the student for the job market.
As an accountant trainee, my job responsibilities were receiving financial deposits from clients at the company after which I would feed the information into the system before finally depositing the cash into the company’s bank account. I was also responsible for placing the company’s orders for construction materials such as cement, ceramic, steel and paint among others. This responsibility requires evaluation and coordination to ensure the company is adequately stocked with quality materials at all times. Apart from handling bank transactions, I also handled receivable accounts and was responsible for the analysis of the accounting records.
Personal reflection
The experience was of great use to my personal and career development for a number of reasons. From the experience, I now fully understand the importance of the profession in the business world. The opinion of accountants is used when making decisions such as corporate strategy and making the budget of the company. The reduction of costs is one of the many strategies that companies and businesses are adopting to increase their profits, and this is only made possible with the knowledge and information provided by accountants (International Federation of Accountants). I appreciated the change of scenery while working in the field which was different from the classroom experience that I had been accustomed to. One personal skill that I acquired during the course work is discipline since I was responsible for other people’s money. The importance of accountability was also instilled in me during the work experience. While making orders for the company, I had to justify the requisitions and ensure that the quantities were also reasonable. Deliveries had to be checked to ensure that they were in perfect shape before they got accepted.
The experience has influenced my career path in a positive manner. Accountants protect the image of the company by ensuring ethics are followed. Accountants can only provide public value if they are trustworthy (International Federation of Accountants). Before the experience, I might have had doubts about accounting as my career. A major part of the doubt was caused by the lack of practical knowledge in the field, which I acquired during my stay with the company. My behavior has an employee at the company had a direct influence on the company, and I had to ensure that I performed at the top level to maintain the company’s reputation, culture, and standards. Collaboration with other employees and departments at the company enhances processes at the company. The importance of team cohesion demonstrated itself on numerous occasions at the organization. Each employee has a vital role to play, and the organization can only be effective if each employee plays their role. The organization used a top-down communication channel. Respecting the chain of command maintains order and enhances communication in any organization. Adjusting to a new environment to accommodate the company’s organizational culture is crucial for every employee. During my work experience, I learned the need to expect and adapt to change. The current job market and business world are highly dynamic especially when the business deals with a multiple number of customers who are diverse. Interaction skills are important when dealing with fellow employees and with clients.
The knowledge acquired in class proved handy during the work experience. Feeding the systems with information was only possible due to the classes we attended at the institution on IT. Computer technology is helpful in the accounting profession since it makes calculations and balancing of numbers easier. The formulas were also taught well by instructors at the institution. Follow-up is one of the skills that was taught in class and one which proved highly effective. Follow-ups ensure that the right decisions are made even when the conditions are altered, and also ensure mistakes do not recur. Follow-ups also present an excellent opportunity for making improvements in the future. Time management is an important skill to have in the accounting profession. The profession involves a lot of activities which require evaluation and coordination to ensure that stocks are well stocked, and the accounts are kept in check.
I have come up with a number of goals and objectives which will assist me to achieve my career goals. The experience helped me identify my strengths, skills, and weaknesses which I intend to keep working on to achieve my career goals. I am a trustworthy and patient individual, qualities which are essential when dealing with people’s money. This calls for discipline to respect other people’s resources and time. Late delivery of receipts can lead to trust and credibility issues which are damaging to the company’s image as well as that of the accountant. An accountant is also expected to be extremely keen when receiving deliveries. If faulty goods are received, this is likely to incur losses for the company. Interactions at the workplace can build or ruin one’s career. I intend to work on my personal interaction skills to ensure that I am in the best of terms with my colleagues in the future and especially the management. Disagreements at the workplace can be misinterpreted as insubordination which leads to conflict at the workplace. I also need to continue my studies and study more courses which are in line with my profession. One course which I intend to pursue is CPA. These courses will give me more skills and knowledge which I can apply in my career. As an accountant, interacting with clients is part of the job. Customer service is essential for every business, and I intend to learn more courses which will enable me to integrate customer service and my accounting skills. Good employees are also innovative, and this can only be achieved if one has more knowledge. I also intend to join the accountants association which will enable me to interact with other accountants. The purpose is to share and borrow ideas which we can use to become better accountants in the future. Learning from others with experience in the accounting profession will give me an insight on the dynamics of the profession. By interacting with others, I also believe I will be opening myself to more opportunities, and I will be able to gain access to more information which is relevant to the accounting profession.
The experience has enhanced my job search skills. The experience and the positive feedback from my supervisor and tutors will act as a bonus during my job search. I may not fully understand what every employer out there is looking for in an accountant since different organizations have different requirements, but I know what I can offer my employer and what the profession requires of me. During my experience, I interacted with other accountants and business people which exposed me to more opportunities than those I had before I joined the company. I have made a list of referrals to whom I wish to send my job application. I am a more confident individual than when I first started the term work, and I believe I can accomplish the roles and responsibilities of an accountant effectively.
Learning objectives- revisited
My co-op term work enabled me to achieve my learning objectives for the course work. The first objective of the course work was to apply concepts studied in class in the field. I was able to achieve this since the opportunity offered me the chance to apply the knowledge studied in class. I was able to achieve this because my supervisors allowed me the chance to learn and trusted me to perform my job. Unlike most employers and supervisors who limit trainers, once I had been briefed on the requirements of the job, the supervisor allowed me to perform my responsibilities provided I checked in from time to time. Another learning objective was to insert information accurately after receiving the cash from our clients. I was able to achieve this objective. The knowledge acquired is substantial since I was responsible for this activity and my supervisor checked the information at the end of the day to ensure that no mistakes were made and correct me when necessary. Being a new face at the company, some clients were reluctant to do business with me at the beginning. The supervisor was also afraid I would make errors in the beginning, but after a while, he was able to trust me and let me work unsupervised. Placing an order was the most difficult objective to accomplish. A lot of critical decisions and considerations are involved in the process. Accountability must always be adhered to, and orders must be reasonable in terms of quantity and quality. The process is not over until the materials ordered at the company arrive and the responsible person has ensured that the materials are in good condition. The wrongful timing of the order might leave the company without supplies. With the help of the supervisor as well as other employees at the company, I was able to make orders and ensure adequate stocking at the company at all times.
Recommendations
The employer offered me an excellent opportunity to acquire skills during the co-op term work. Both employees and supervisors were supportive. The organization offers students the chance to acquire practical experience by offering them a chance to perform the real job and not just supportive roles. In the beginning, this is somewhat overwhelming for the student, but after a while, the student adapts. After all, being receptive to change is a skill that the student needs to acquire. The organization, however, can be more helpful to students if they allowed the student access to more activities which are involved in the accounting profession. These activities include the preparation of financial reports which is a vital part of an accountant’s profession. Payable transactions is another vital role that is played by an accountant. In short, an accountant should be able to be held accountable for all the financial duties of an organization. A student accountant should also be offered a chance to conduct auditing to ensure that there is accountability at their organization. Management of finances enables employers to keep track of finances and its one of the primary reasons why accountants are hired. During my co-op term work, the organization concentrated on two areas in the accounting sector. The organization should try and accommodate more activities which are involved in the accounting profession.
Conclusion
In conclusion, the co-op term work gave me a lot of insight on the accountancy profession during my experience at the organization which has motivated me to pursue the accounting profession. The accounting profession plays a major role in an organization and sometimes makes the difference between companies which are profitable and those which do not make profits. Accountants assist companies and businesses in building the corporate strategy in organizations, a factor which influences the profitability of most companies. Trust is a major strength in the sector as the profession helps uphold this core value for most organizations. Without trust, the accountant fails to serve their public value to the community. An accountant plays multiple roles in an organization which is critical for the smooth running of the organization. Interaction and cooperation with other employees enhance the effectiveness of the accountant in any organization. For student accountants, it is important to apply the knowledge acquired in class during their work experience. Follow-ups enhance the effectiveness of the accountant. It is also important to note that not all skills can be acquired in class. Skills such as evaluation and decision-making can only be acquired in the field. Others skills include coordination and timekeeping. The work experience is very helpful for students since it removes doubts for students who have not been offered the chance to practice the theory studied in class before. The opportunity has prepared me for the job market and has enabled me to come up with more objectives and goals which will enable me to accomplish my career goals. The work environment has offered me with valuable knowledge and skills for the job market, but I still feel that there is still more to learn. Learning is, however, a continuous process and experience is the best teacher. I intend to acquire more knowledge on the field and enroll for more course which is in line with the accounting profession.
Works cited
International Federation of Accountants. Roles and Importance of Professional Accountants in Business. 2016. Web. 10 August 2016. <https://www.ifac.org/news-events/2013-10/roles-and-importance-professional-accountants-business>.
